American Resources Corporation Adjusts the Distribution Date for the Special Dividend of its Subsidiary American Carbon Corporation

Rhea-AI Summary

American Resources (NASDAQ:AREC) has announced a change in the distribution date for the special dividend of its subsidiary, American Carbon Initially set for an earlier date, the distribution will now occur on August 9, 2024, to facilitate the listing of American Carbon on a national exchange. Shareholders of American Resources as of May 27, 2024, remain eligible for the dividend. CEO Mark Jensen highlighted the company's dedication to maintaining shareholder liquidity and enhancing value. Additionally, the company is working on establishing distribution dates for its ReElement Technologies division. This adjustment aims to maximize market opportunities and shareholder benefits.

Positive

• Distribution date for American Carbon 's special dividend set for August 9, 2024.
• Shareholders of record as of May 27, 2024, remain eligible for the special dividend.
• Listing American Carbon on a national exchange aims to enhance liquidity and shareholder value.
• Company's management team maintains an open dialogue with shareholders.
• Efforts to establish distribution dates for ReElement Technologies are underway.
• American Resources is focused on growth, cost-efficiency, and reducing legacy risks.

Negative

• Adjustment of the distribution date for the special dividend may cause uncertainty among investors.
• Potential delays in establishing distribution dates for ReElement Technologies

FISHERS, IN / ACCESSWIRE / June 10, 2024 / American Resources Corporation (NASDAQ:AREC) ("American Resources" or the "Company"), a next generation and socially responsible supplier of rare earth and critical elements, carbon and advanced carbon materials to the new infrastructure and electrification marketplace, announced today that, due to the Company's decision to list its wholly owned subsidiary, American Carbon Corporation, on a national exchange prior to its distribution, the Distribution Date for the previously announced special dividend has been adjusted to now occur on August 9, 2024. The special dividend of American Carbon Corporation will still be distributed to shareholders of record of American Resources as of May 27, 2024.

Mark Jensen, CEO and Chairman of American Resources Corporation commented, "We continue to move as expeditiously as possible to complete the distribution of American Carbon Corporation. As a result of communicating with several of our shareholders, we wanted to provide them with the most efficient path to maintaining liquidity of our subsidiaries upon spinning off into standalone entities. As the largest shareholder group of the Company, our management team wholeheartedly believes in an open dialogue with its shareholders and the importance of its alignment in enhancing shareholder value. We couldn't be more excited in the current position of all of our entities and the opportunities we have in front of us to positively unlock value in the public markets for our shareholders and stakeholders. The team is also working aggressively towards establishing a record date and distribution date for our ReElement Technologies Corporation division, which we hope to provide such dates in the near term."

Please refer to American Resources Corporation press release dated April 4, 2024 for additional information on the special dividend. The planned special dividend shall be subject to compliance with applicable rules and regulations.

About American Resources Corporation

American Resources Corporation (NASDAQ: AREC) is a next-generation, environmentally and socially responsible supplier of high-quality raw materials to the new infrastructure market. The Company is focused on the extraction and processing of metallurgical carbon, an essential ingredient used in steelmaking, critical and rare earth minerals for the electrification market, and reprocessed metal to be recycled. American Resources has a growing portfolio of operations located in the Central Appalachian basin of eastern Kentucky and southern West Virginia where premium quality metallurgical carbon and rare earth mineral deposits are concentrated.

American Resources has established a nimble, low-cost business model centered on growth, which provides a significant opportunity to scale its portfolio of assets to meet the growing global infrastructure and electrification markets while also continuing to acquire operations and significantly reduce their legacy industry risks. Its streamlined and efficient operations are able to maximize margins while reducing costs. For more information visit americanresourcescorp.com or connect with the Company on Facebook, Twitter, and LinkedIn.

Special Note Regarding Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties, and other important factors that could cause the Company's actual results, performance, or achievements or industry results to differ materially from any future results, performance, or achievements expressed or implied by these forward-looking statements. These statements are subject to a number of risks and uncertainties, many of which are beyond American Resources Corporation's control. The words "believes", "may", "will", "should", "would", "could", "continue", "seeks", "anticipates", "plans", "expects", "intends", "estimates", or similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Any forward-looking statements included in this press release are made only as of the date of this release. The Company does not undertake any obligation to update or supplement any forward-looking statements to reflect subsequent events or circumstances. The Company cannot assure you that the projected results or events will be achieved.

Investor Contact:

JTC Team, LLC
Jenene Thomas
833-475-8247
arec@jtcir.com

RedChip Companies Inc.
Robert Foley
1-800-RED-CHIP (733-2447)
Info@redchip.com

Company Contact:

Mark LaVerghetta
Vice President of Corporate Finance and Communications
317-855-9926 ext. 0
investor@americanresourcescorp.com

SOURCE: American Resources Corporation

View the original press release on accesswire.com

FAQ

What is the new distribution date for American Carbon 's special dividend?

The new distribution date is August 9, 2024.

Who is eligible for the American Carbon 's special dividend?

Shareholders of American Resources as of May 27, 2024, are eligible.

Why was the distribution date for American Carbon 's special dividend adjusted?

The date was adjusted to facilitate the listing of American Carbon on a national exchange.

What is the stock symbol for American Resources ?

The stock symbol is AREC.

What other initiatives is American Resources working on?

The company is working on establishing distribution dates for its ReElement Technologies division.

How does American Resources view its relationship with shareholders?

The company maintains an open dialogue with shareholders to enhance value and liquidity.